From the outside looking in, it seems as if not much has changed in regards to the “Pay or Play” provisions for employers after this morning’s ObamaCare Supreme Court ruling to uphold most parts of the ACA (Affordable Care Act).
So far, in plain terms, here is what I know in regards to the law (from our company’s health insurance broker & attorney):
- The opinion is extremely complex, and it will hopefully be sorted out soon.
- The requirement that most Americans buy health insurance or pay a fine is constitutional as a tax. Not as a penalty.
- The pay or play provisions that employers are nervous about, are most likely still in place, but not much has been said about that as of yet.
- The pay or play penalties (or taxes – however they will word it) for employers will most likely change from the initial proposed $3,000 per employee penalty.
- The states need to get their crap together now and set up these exchanges (since we still don’t know what it will look like state by state). They’ve got a year-and-a-half to get it done.
Basically, companies are still most likely damned if they and damned if they don’t… but we don’t know how damning it is… yet.
Yes, for sure, we know that individuals will be taxed if they do not take insurance, but they all still agree that American businesses will be the major supplier of funding for the ACA. Someone has to pay for it, right?
On a happy note: 32 million uninsured Americans can be covered by 2014. I mean, really, is that a bad thing? Probably not.
But we are so divided over this decision as a country.
So I hope all of us who were hoping for certain aspects (
or the whole darn thing) to be declared unconstitutional, will realize that it’s helping those that were uninsured or under-insured. Hopefully we can all see that there are good things and bad things with this whole thing. And one thing is for sure, things are going to be-a-changing around this joint.
Crap, I don’t know how it’s going to all play out. No one does as of this minute. And they are lying if they say they do. This needs to be picked apart by attorneys who can interpret all of this legal-speak.
I have a conference call tomorrow at 2pm, where I will be told how the decision affects American businesses after a team of attorneys reads this very complex decision all day today and overnight tonight. Just check back with me tomorrow once I get off that conference call and know more things.
In the meantime, I’ll just be sitting here, drinking from this flask I keep in my desk, and eating my humble pie.
So what are your thoughts today? Are you stoked or stroked?